Due to advances in machine learning techniques and sensor technology, the data driven perspective is nowadays the preferred approach for improving the quality of maintenance for machines and processes in industrial environments. Our study reviews existing maintenance works by highlighting the main challenges and benefits and consequently, it shares recommendations and good practices for the appropriate usage of data analysis tools and techniques. Moreover, we argue that in any industrial setup, the quality of maintenance improves when the applied data driven techniques and technologies: (i) have economical justifications; and (ii) take into consideration the conformity with the industry standards. In order to classify the existing maintenance strategies, we explore the entire data driven model development life cycle: data acquisition and analysis, model development and model evaluation. Based on the surveyed literature we introduce taxonomies that cover relevant predictive models and their corresponding data driven maintenance techniques.